You made a substantial investment of time and money to earn your New Jersey insurance producer license. Now it has become your livelihood. So, make sure you’re keeping it active. This article covers all the steps you need to keep your insurance license active in New Jersey.
Every two years you need to renew your insurance license. This must be done prior to your license expiration date. Your license expiration is the last day of your birth month every two years. Your expiration year is determined by when you were first licensed. Most agents know their expiration year, but you can look it up here in case: New Jersey License Search.
Now that you know your license expiration date, there are only two steps required to keep your insurance license active in New Jersey:
- Complete the required continuing education.
- Submit the renewal application on time.
Step #1: Complete the Required Continuing Education
The amount of CE you are required to take is based on the type(s) of licenses you hold, but almost all agents are required to take 24 credit hours every two years. This includes all agents who are licensed to sell any of the major lines of insurance: life, accident, and health; property and casualty; variable life and annuity; and personal lines.
At least 3 of the 24 hours taken must be approved for ethics training. Aside from the ethics training requirement, courses can be taken in any subject matter as long as they are approved by the New Jersey Department of Banking and Insurance. Please note that regardless of the number of licenses you hold (property, casualty, life, health) you only need to take 24 credits total.
Special Training Requirements
There are special training requirements for agents who sell certain products such as flood insurance, long-term care, and annuities.
Agents who sell flood insurance need to complete a one-time three-hour continuing education course related to the National Flood Insurance Program. Those selling annuity products must complete a one-time four-hour annuity suitability course.
Long-term care sales require an initial eight-hour long-term care training course, and a four-hour refresher course must be done every renewal period following.
Step #2: Submit Your Renewal Application Prior to Expiration
After completing your CE requirements, the last step you need to take is to renew your New Jersey insurance license. This must be done on or prior to your license expiration date, but not more than 90 days in advance of your expiration date. You can access your renewal application and file it online at NJ Agent Renewal (NIPR) or NJ Agent Renewal (Sircon). The renewal fee is $150, plus a $5 processing fee. Any renewal submitted on paper rather than online will be charged an additional $20 processing fee.
What if You Didn’t Renew Your New Jersey Insurance License Prior to Expiration?
Renewal applications received more than 30 days beyond the license expiration date will be considered late and the license will be considered expired. Agents are prohibited from conducting insurance business with an expired license. However, agents have up to 1 year to reinstate their license by completing their continuing education, submitting a renewal application, and paying a late fee of $100 in addition to the renewal fee of $150. If you fail to renew within one year of the scheduled expiration date, your license will be canceled and you must re-qualify as a new applicant.
Now is the Time to Start Your Continuing Education
Even with a full two years to accumulate your 24 hours of continuing education, there’s no reason to wait to get started. We’ve got you covered with all the courses you need. You can find the full listing at New Jersey Insurance Continuing Education Course Catalog.
The online training is self-paced and delivered to your computer, tablet, and smartphone. The quizzes and exams are scored instantly, and you can take them as many times as necessary to pass. Plus, you can return to the training whenever it is convenient. The course progress bar tells you exactly where you left off.
Our webinar courses are instructor-led and delivered live using video conferencing. You’re required to be in attendance for the full class time, with check-ins at random times throughout the webinar to confirm your attendance. Students can interact and ask questions. Advantages to webinars include no required reading and no quizzes or final exams. You can view a listing of our webinars here: New Jersey Webinar Catalog
Completions Reported the Same Day
Note that our office will report your continuing education course credits to the New Jersey Department of Banking and Insurance on the same day you complete the training. So, if you’re in a rush to complete your continuing education, we’ve got you covered.
Summary of Steps to Renew Your New Jersey Insurance License
Even though we’ve mapped it out above, it’s still a great deal to digest. Here’s a quick summary to get you started on the path to renewal.
- Determine your license expiration date.
- Determine your continuing education requirements.
- Select and enroll in courses well in advance of your expiration date.
- Complete your courses – we submit your credits to the New Jersey Department of Banking and Insurance the same day you complete them.
- Renew your license.
We’re certain that everything you need to keep your insurance license active in New Jersey is easily accessible through our website. If not, simply call our office and we’ll happily assist you.
If you’re near your renewal date, there’s no time to be lost. Sign up now for the most trusted and convenient solution for keeping your license active.
We’re Here to Help
At BetterCE we provide more than the most convenient and affordable solution for insurance continuing education. Our agent support services are provided by experienced insurance licensing professionals who have helped thousands of agents easily navigate the insurance license renewal process.
Have a question or need assistance? Phone 1-888-501-7330 for our customer care team. We also respond to email as well as via our Contact Form. On our contact page, you can also sign up for convenient license renewal reminders.